Gold futures rise on global cues

Gold futures rates rose by Rs 158 to Rs 26,508 per 10 gms.

Written by Agencies | New Delhi | Published: October 10, 2011 3:23 pm

Tracking a firming Asian trend,gold futures prices rose by Rs 158 to Rs 26,508 per 10 grams in today,as speculators created fresh positions.

At the Multi Commodity Exchange,gold for delivery in December rose by Rs 158,or 0.60 per cent,to Rs 26,350 per 10 grams,with a business turnover of 6,989 lots.

Similarly,the metal for delivery in February moved up by Rs 151,or 0.57 per cent,to Rs 26,770 per 10 grams,with a trade volume of 177 lots.

Market analysts said fresh buying by speculators to meet the demand ahead of Diwali,amid a firming Asian trend mainly led to rise in gold futures prices.

Meanwhile,gold rose by one per cent to $1,654.47 an ounce in Singapore.

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